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For full text article go to : https://www.educorporatebridge.com/cfa/cpa-vs-cfa/ This article on CPA vs CFA will highlight important requirements, exam details and career prospects of these credentials and help you choose the right one for yourself.
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CPA
vs.
CFA By edu CBA
• Certified Public Accountant (CPA) has been so far the most known credential in
accounting and finance world. • It is legally essential in order to do specific jobs, such as public accounting i.e.
independent auditing. • It permits you to charge for accounting services you provide to the public. • It is quite useful when it comes to the corporate but essentially it is valuable in the
public sector. • For many people they see a CPA as someone who prepares tax returns, but CPA’s do
much more than that and also one does not require a CPA license in order to prepare the same.
What is CPA?
What is CFA? • Chartered Financial Analyst could be one of the hardest credential to be
obtained. It is specifically focused on the investment banking process. • It was introduced in the year 1963 and it is considered to be one of the highest
designations in the finance domain. • It is a credential that certifies its holder competent and honest. • This reputation in the business world is recognized in many countries of the
world. • The CFA degree is not a legal requirement in order to work as a financial
analyst but it is a good way to crack some of the most important jobs.
Exam Details
• In order to obtain the credential there are four parts to the exam.
• As far the content and structure goes
it is the same in US and across states. • It is a 14-hour computerized exam
There are various exam windows one could schedule there exam in any of them.
• The window is of two months period
and there are four such windows during the year (Jan-Feb, Apr-May, Jul-Aug, Oct-Nov).
CPA CFA • The CFA is a charter issued by the CFA
Institute after completion of the three parts of the exam.
• The three parts of the exam do not test
subject matter independently, as the CPA generally do.
• The first exam tests the candidates
broad financial principles, the second is a more intensive test on financial analysis and accounting, and the third exam is broadly based on portfolio management and decision making.
CFA Requirements CPA • The educational criteria/requirement also
varies by state, but typically, in order to appear for the CPA exam, applicants should have a bachelor's degree along with 120 semester hours.
• Additional educational requirements
generally comprise of 24 to 30 semester hours in accounting, earned through a graduate or bachelor's degree in business.
• Work experience is concerned would vary
across states but mostly they require to have completed at least 1-2 years working directly for the CPA.
• The educational requirements for the CFA credential would require only a bachelor’s degree.
• Even in case you do not have one this
condition can be satisfied if you have 4 years of professional experience.
• As in CPA there is experience condition
for the certification which is CFA would require a four years professional experience in related field that has a direct role to play with the decision making process.
Career CFA CPA • You could work for any sized firm,
from a large CPA firm to a small local accounting firm.
• At the firm you could work on any
of these varied fields such audit, tax and management consulting.
• If you want to work for any business
corporate you could choose a field in financial accounting and reporting, management accounting, financial analysis and treasury/cash management, hedge funds etc.
• Career paths could include financial analyst, treasurers, financial advisers, research analysts, traders, private bankers, portfolio managers, investment banking analysts to name some.
• This charter provides you with
international recognition and imparts skills that are highly acknowledged.
• Moreover these jobs are
considered to more lucrative than other finance jobs.
Knowledge is like a line
with no ends…
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